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QuantumScape
(NASDAQ:QS)
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Rating:49Neutral
Price Target:
$4.00
▼(-31.27% Downside)
Action:Reiterated
Date:10/23/26
The score is held down primarily by weak financial performance (no meaningful revenue, large ongoing losses, and significant cash burn) and bearish technical trends (below major moving averages with negative momentum). These are partially offset by a constructive earnings update showing execution progress (customer billings, partnerships, and strong liquidity), though guidance still points to continued sizable losses and commercialization timelines extending to 2028.
Positive Factors
Low Leverage
Very low leverage limits interest and refinancing pressure while preserving financial flexibility during commercialization. This gives QuantumScape more capacity to fund technology development and production planning without relying primarily on debt financing as losses continue.
Negative Factors
No Demonstrated Revenue Base
QuantumScape has not yet established a meaningful revenue base capable of absorbing its operating costs. Persistent gross, operating, and net losses leave results dependent on continued funding and make future profitability highly reliant on successful commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low leverage limits interest and refinancing pressure while preserving financial flexibility during commercialization. This gives QuantumScape more capacity to fund technology development and production planning without relying primarily on debt financing as losses continue.
Read all positive factors
QuantumScape (QS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.50B
Dividend YieldN/A
Average Volume (3M)13.68M
Price to Earnings (P/E)―
Beta (1Y)2.44
Revenue GrowthN/A
EPS Growth22.80%
CountryUS
Employees700
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.63
Shares Outstanding587,219,200
10 Day Avg. Volume16,149,253
30 Day Avg. Volume13,675,325
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)5.13
Price to Sales (P/S)0.00
P/FCF Ratio-21.53
Enterprise Value/Market Cap0.85
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-48.87
Enterprise Value/Ebitda-6.38
Forecast
1Y Price Target
$5.80Price Target Upside-0.34% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-0.65
Revenue Forecast (FY)$55.96K
QuantumScape Business Overview & Revenue Model
Company Description
QuantumScape Corporation, along with its affiliated entities, specializes in the advancement and market launch of innovative solid-state lithium-metal batteries. These cutting-edge power solutions are primarily engineered for electric vehicles (EV...
How the Company Makes Money
QuantumScape’s monetization model is primarily tied to commercializing its battery technology rather than selling large volumes of finished batteries today. Historically, the company’s reported revenue has been limited and has largely come from co...
QuantumScape Earnings Call Summary
Earnings Call Date:Oct 21, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 17, 2027
Earnings Call Sentiment Positive
The call was strongly focused on progress in manufacturing scale-up, customer engagement, and expansion into AI data center, defense, aerospace, and other advanced markets. QuantumScape highlighted the Eagle Line's operational progress, new ecosystem partnerships, QS PowerBlock performance, first billings from Honda and QSAS, and $819.8 million of liquidity. The primary negatives were the $84.5 million GAAP net loss, $60.7 million adjusted EBITDA loss, continued full-year losses, revision of the PowerCo payment structure, and the fact that the 100 megawatt-hour production line is not targeted to start production until 2028.Positive Updates
100 Megawatt-Hour Mass Production Line Announced
QuantumScape announced a 100 megawatt-hour mass production line aimed at meeting opportunities in its QSDC and QSAS business verticals. Engineering work on higher-throughput processes and equipment is underway, with start-up production targeted for 2028.
Negative Updates
Q3 GAAP Operating Expenses and Net Loss
GAAP operating expenses were $92.4 million in Q3, while GAAP net loss was $84.5 million.
Read all updates
Q3-2026 Updates
Positive
Negative
100 Megawatt-Hour Mass Production Line Announced
QuantumScape announced a 100 megawatt-hour mass production line aimed at meeting opportunities in its QSDC and QSAS business verticals. Engineering work on higher-throughput processes and equipment is underway, with start-up production targeted for 2028.
Read all positive updates
Company Guidance
For full year 2026, QuantumScape reiterated adjusted EBITDA loss guidance of between $250 million and $275 million and guidance for CapEx to be between $27 million and $37 million; the planned 100 megawatt hour mass production line has start up production targeted for 2028, with equipment cost to QS targeted at less than a $100 million, and the company wants to have multiple customers signed up before 2028.QuantumScape Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
66
Positive
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -43.54M | -73.22M | -57.78M | -41.96M | -36.12M | -14.70M |
| EBITDA | -333.63M | -358.25M | -409.93M | -392.95M | -373.37M | -29.86M |
| Net Income | -383.62M | -435.05M | -477.86M | -445.14M | -411.91M | -45.97M |
Balance Sheet | ||||||
| Total Assets | 1.12B | 1.31B | 1.32B | 1.50B | 1.48B | 1.72B |
| Cash, Cash Equivalents and Short-Term Investments | 819.78M | 970.81M | 910.77M | 1.07B | 1.06B | 1.45B |
| Total Debt | 65.05M | 71.00M | 93.54M | 100.63M | 105.42M | 77.37M |
| Total Liabilities | 123.74M | 139.18M | 164.55M | 161.80M | 155.86M | 107.06M |
| Stockholders Equity | 995.34M | 1.17B | 1.16B | 1.34B | 1.32B | 1.61B |
Cash Flow | ||||||
| Free Cash Flow | -258.79M | -278.75M | -336.69M | -324.54M | -376.87M | -255.09M |
| Operating Cash Flow | -227.47M | -242.47M | -274.56M | -240.03M | -218.02M | -127.91M |
| Investing Cash Flow | 18.51M | 14.93M | 128.87M | -152.53M | 124.12M | -385.83M |
| Financing Cash Flow | 57.20M | 312.81M | 144.03M | 300.21M | 8.60M | 736.56M |
QuantumScape Technical Analysis
Negative
5.82
Price Trends
5.00
Negative
5.79
Negative
6.82
Negative
Market Momentum
-0.29
Negative
36.14
Neutral
32.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QS, the sentiment is Negative. The current price of 5.82 is above the 20-day moving average (MA) of 4.33, above the 50-day MA of 5.00, and below the 200-day MA of 6.82, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 36.14 is Neutral, neither overbought nor oversold. The STOCH value of 32.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QS.
QuantumScape Risk Analysis
QuantumScape disclosed 54 risk factors in its most recent earnings report. QuantumScape reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
QuantumScape Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $11.19B | 27.21 | 7.37% | 1.24% | 2.17% | 111.19% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $526.86M | -9.97 | -27.94% | ― | 163.22% | 8.70% | |
53 Neutral | $8.86B | 40.66 | 2.41% | 0.97% | -5.40% | -75.68% | |
49 Neutral | $2.50B | -6.40 | -35.50% | ― | ― | 22.80% | |
49 Neutral | $246.09M | -3.38 | -32.62% | ― | 106.54% | 33.28% | |
48 Neutral | $451.80M | -4.30 | -19.68% | ― | -51.49% | 14.04% |
* Consumer Cyclical Sector Average
QS
QuantumScape
4.03
-12.25
-75.25%
BWA
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54.96
12.15
28.37%
APTV
Aptiv
42.69
-30.25
-41.48%
HYLN
Hyliion Holdings
2.95
0.73
32.88%
SES
SES AI Corporation Class A
0.69
-1.75
-71.68%
SLDP
Solid Power
1.98
-3.86
-66.10%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.